Kenanga Investment Bank co-founder Tan Sri Tengku Noor Zakiah reflects on a remarkable career and legacy

“When I embarked on my journey in the stockbroking field, my greatest motivation to succeed was driven by a deep desire to challenge the status quo and strive for excellence,” the mum of seven tells Tatler. “I was fuelled by a strong sense of purpose, aiming to prove my abilities while simultaneously inspiring and creating opportunities for other women in the industry. Making a positive impact and reshaping societal perceptions were important for me.”

A partner at one of Malaysia’s oldest stockbroking firms, Hallan & Co in the 1960s, Tengku Noor Zakiah eventually became the first female member of the Kuala Lumpur Stock Exchange (now known as Bursa Malaysia). She is responsible for founding the Association of Stockbroking Companies Malaysia (ASCM) in a move to elevate the reputation and professionalism of the stockbroking industry. She served as president of the association until 1994 before retiring as chairman and a life adviser.

“The creation of ASCM was not just about fostering camaraderie; it was about setting and upholding rigorous standards of professional conduct for all members. By doing so, we aimed to elevate the integrity and reputation of the stockbroking industry in Malaysia. This not only inspired greater trust from investors but also led to improved oversight of the industry as a whole.”

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Blessed with the ability to see the big picture without losing sight of the nitty-gritty details that make or break success, Tengku Noor Zakiah’s leadership style is primarily inspired by her entrepreneur father, the late Tengku Ismail Tengku Nik Haji, who was a grandson of Sultan Tengku Besar Timung. A man who was ahead of his time, Tengku Ismail was fiercely loyal and devoted to his family, as seen in the decisions he made from leaving the property he inherited from his wealthy uncle in Patani to his three sisters or resolving to educate his daughters even if it meant sending them far from home to attend the right schools.

“I have vivid memories of accompanying my father around his estate during my childhood. That early experience left a profound impact on me. Watching him interact with everyone, from family members to workers, provided me with invaluable lessons in empathy, compassion, and responsible leadership. His focus on employee welfare for a motivated workforce inspired me,” she muses, adding how the establishment of the Tengku Noor Zakiah Staff Outreach Fund in Kenanga as a vehicle of financial assistance to employees in need was just one example of the influence of her father’s deep sense of empathy and responsibility.

This year, Tengku Noor Zakiah has yet another milestone to celebrate as Kenanga’s 50th anniversary kicked off in June. Having come a long way from those hectic early days, Kenanga has long been celebrated for its inclusive and diverse work culture, with a workforce that’s 51 per cent female, including women in top leadership roles.

“It is an incredible honour to celebrate the 50th anniversary of Kenanga. This anniversary is not merely a marker of time; it is a resounding testament to the unwavering dedication and hard work of the entire Kenanga team. It is a celebration of the enduring relationships we have built and the formidable challenges we have overcome,” she says.

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On top of her business acumen and keen instincts that served her well in the male-dominated world of stock trading, Tengku Noor Zakiah was also an inherently creative soul. As a young woman, she loved designing her own jewellery and even opened her own dress shop in Kota Bharu as well as Silver & Silk, a store selling beautiful Malaysian handicrafts and gifts at what used to be the Merlin Hotel in Kuala Lumpur (now known as Concorde Hotel Kuala Lumpur) in the 1960s. In her book, Tengku Noor Zakiah recounts how she salvaged some scrap iron rods from a friend’s house, painting them white and fashioning them into shelves for the store’s centrepiece.

“The principles of simplicity and frugality that I learned in my childhood continue to be a big part of my personal and professional journey,” she says. “These lessons were instilled in me by my parents, who lived through challenging times and understood the importance of making the most of what they had. Simplicity, for me, has meant keeping things uncomplicated and straightforward. In business and life, I have always found that the simplest solutions are often the most effective. Frugality, on the other hand, has taught me the importance of resourcefulness and prudence. From a young age, I learned to appreciate the value of money and the significance of making wise investments. These timeless principles have served me well in my life.”

Commenting on the availability of opportunities for women in financial sectors today, compared to when she started her finance career, Tengku Noor Zakiah offers these heartfelt words: “It has been a privilege to witness the leaps and bounds women have made in the corporate world and financial sector over the last few generations. I am in awe of the courage displayed and the ability of women to, time and again, rise to the occasion. The recognition and inclusion of women in the industry have indeed come a long way, and it fills me with optimism.

“During those days, I was limited in what I could venture into in the beginning and started with sewing and hairdressing because that was what women did at that time. My world was a small one, and I did what I could, but there are far more choices now because the world has become a much bigger place. Women have more money and spending power now and access to training and knowledge. Today, they make up the majority of students in our universities and have the chance to learn about any field of their choice. All these are shifting cultures and mindsets, and with time, will get us there.”

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